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Jobboom Index for September

Ontario’s Index drops again

Over the past month, Ontario’s goods producing sector generated 9,600 new jobs, mostly in construction and agriculture. These new jobs, however, were not enough to make up for the loss of 19,100 positions during the previous period. Thus, Ontario’s Jobboom Index falls again (-1.8) for September—a drop that also takes into account the weak job creation history for this period, over the past ten years. After having lost 39,100 jobs at the beginning of the year, Ontario’s Index began to recover in March. Year-to-date net job creation now totals 53,600. (+0.8). Over the past 12 months, the net total was 88,300 new jobs (+1.4). This month’s Index ranks 29th out of 120. In other words, over the past ten years, there were 91 months with weaker Indices (from September 1995 to September 2005). During this period, employment in Ontario grew by 25 percent.

   SEPTEMBER 2005
   FORECAST
86.5%

FAVOURABLE

Toronto’s Regional Index : 81.5 percent
The Toronto Census Metropolitan Area (CMA) reports another Index increase for the month of September (+1.7), following the creation of 8,900 jobs in August, in addition to the 61,200 positions created over the three preceding periods. The new jobs have allowed Toronto’s Index to finally cross over the 80 percent mark following a rather difficult period. Toronto’s employment status had dropped to “fair” in December 2004. Since then, this CMA has reported a net gain of 69,100 jobs (+2.6). Over the past 12 months, Toronto reports net employment gains of 47,300 (+1.7). This month’s Index ranks 27th compared to the previous 120 months. In other words, there were 93 months with lesser Indices (from August 1995 to August 2005). Over this same period, employment in Toronto increased by 32 percent.

Ottawa-Gatineau’s Regional Index : 72 percent
A loss of 500 jobs in August, adding to previous losses of 6,600, has resulted in another drop in Ottawa-Gatineau’s Jobboom Index (−1.8), which fell below the 80 percent mark in July, for the first time since November 2004. This Index had remained relatively stable following losses of 6,200 jobs in February and March, which sent the Index below the 90 percent mark. The year-to-date tally for the region now shows a net loss of 12,300 jobs (−2.0). For the past 12 months, this figure reads zero. This month’s Index ranks 52nd out of 120. In other words, there were 68 months with lesser Indices over the past ten years. Over this same period, the number of jobs in the region grew by 25 percent.

Important Note : Jobboom Index forecasts have been adjusted to reflect changes to Statistics Canada’s Labour Force Survey (LFS) based on data from the 2001 Census. These changes were published in February 2005.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO AUGUST
ONTARIO 86.5 FAVOURABLE -1.8
Toronto Region 81.5 Favourable +1.7
Ottawa-Gatineau Region 72.0 Fair -1.8